ATMs IN NIGERIA, THE FRUSTRATION

Ever since the revolution of the Automated Teller Machine (ATM) entered Nigeria, many thought the long awaited solution to the long queues in banking hall will be resolved. But today the story is different.

Many Automated Teller Machine (ATM) deployed by banks have become a dangerous spot where one could lose thousands or millions within a twinkle of an eye, in many circumstances the customer never recovers such amount as the procedure to recover the money could be very hectic and frustrating.

The long queues at some ATM points have also become very unbearable as customers are forced to either try their luck with faulty or problematic ATMs around.

Many ATMs will be seen being active but when one tries to make a withdrawal he will be welcome with a message “Temporary unable to Dispense Cash”, if the Nigeria economy will ever grow beyond its present state, then every effort at making this ATMs work properly by the banks should be revisited because the ATMs have become the quickest way of getting cash for business transactions.

The Central Bank of Nigeria (CBN) decisions to scrap the N100 interbank charges on the use of ATM cards recently was a welcome idea by many but it has turned to be a gift of

frustration given to customers by CBN and the Banks. Hence many banks have abandoned their ATMs or lost interest to its services.

A recent Statistics however shows that poor service delivery may linger for a while. According to a recent survey by a leading opinion polling and research organisation in Nigeria, NOI Polls, it revealed that 61 percent of customers believe that banks are exploiting them through hidden charges.

The poll explained: ‘The need to grow profits is seen as a trade-off for quality customer relationship and service delivery. As the banking industry has gone from about 85 banks to 25 banks to 22 banks over the last decade, there is an increased pressure to stay relevant and profitable in a closely regulated industry. This pressure has continued to cause a decline in satisfaction levels with several customer engagement platforms specifically with the old fashioned ‘customer service desk.

A candid advice to anyone who uses ATM “be careful when withdrawing or trying to do any transaction on the ATM around you because it may ruin your day”.

 By: Chizoba J. Obiano